Here’s what to consider based on your situation as a first-time landlord:Tenant Backs Out After Signing a LeaseSince your tenant signed a 13-month lease and paid a deposit, the lease is legally enforceable unless it includes a cancellation or early termination clause.If no such clause exists, the tenant may still be liable for rent until you secure a new tenant.The agency can generally retain the deposit to cover unpaid rent or costs related to re-listing.Any resulting legal fees or rent loss may be deductible on your Schedule E when you file taxes, as part of rental-related expenses.Appealing Your Property Tax AssessmentIf your property taxes increased significantly, you can file an appeal with your local assessor.A successful appeal, supported by comparable property sales or valuation errors—can reduce your property tax bill, improving cash flow.While insurance premiums are not directly tied to tax assessments, a lower assessed value may affect premiums if your policy is based on replacement cost or uses assessed value as part of the underwriting model.Should You Put the Property in an LLC?

One of the guys from Triple Dip Flip, the A&E show, in a recent video says they lost over $500,000 with the properties the were working with. 

Your time frame for selling can have a huge impact Property Status 8/4/2025 Orig Reduced To Decline Address Bought Amount Last Bought Active 1st Listed List Amount DOM Today Since Listing 3619 E MONTEROSA ST APT 202 $200,000 6/24/2022 Active 6/19/2025 $199,900 46 $189,990 ($9,910) 5345 E VAN BUREN ST UNIT 307 $199,000 3/3/2022 Active 5/23/2025 $230,000 73 $223,500 ($6,500) 2941 N 19TH AVE UNIT 84 $215,000 2/18/2022 Active 9/2/2024 $249,900 336 $237,800 ($12,100) 10610 S 48TH ST UNIT 1074 $288,500 3/11/2022 Active 4/28/2025 $259,000 98 $259,000 $0 3414 W MARCO POLO RD $329,999 11/21/2022 Active 7/11/2025 $350,000 24 $350,000 $0 1319 E PIUTE AVE $390,000 4/6/2022 Active 7/25/2025 $412,000 10 $421,000 $9,000 19202 N 14TH ST $420,000 5/19/2022 Active 4/18/2025 $425,000 108 $417,900 ($7,100) 3054 W REDFIELD RD $420,000 8/5/2022 Active 5/21/2025 $442,000 75 $436,000 ($6,000) 3215 W PHELPS RD $405,000 2/10/2022 Sold 4/15/2025 $430,000 101 $445,000 $15,000 4343 N 21ST ST APT 217 $389,900 4/28/2022 Active 7/9/2025 $469,000 26 $449,000 ($20,000) 3131 E LEGACY DR UNIT 1093 $370,000 9/15/2022 Active 3/29/2025 $475,000 128 $460,000 ($15,000) 426 E MORROW DR $452,000 5/12/2022 Active 7/4/2025 $465,000 31 $449,900 ($15,100) 1534 E PIERCE ST $555,000 8/26/2022 Active 2/28/2025 $599,000 157 $537,500 ($61,500) 1332 E CHARLESTON AVE $0 3/9/2022 Rental 6/12/2025 $574,900 53 $549,900 ($25,000) 4240 E BLUEFIELD AVE $416,000 1/24/2022 Active 5/15/2025 $625,000 81 $599,950 ($25,050) 1115 E MCKINLEY ST $600,000 6/24/2022 Active 3/6/2025 $699,900 151 $625,000 ($74,900) 16609 S 14TH ST $590,000 1/6/2022 Active 7/11/2025 $669,000 24 $669,000 $0 313 W VERNON AVE $737,500 11/1/2022 Active 7/7/2025 $835,000 28 $799,000 ($36,000) 102 W ALMERIA RD $1,200,000 10/19/2022 Active 3/13/2025 $1,625,000 144 $1,525,000 ($100,000) And there are costs of sale.

Agent partners who understand the investor mindset timelines, margins, and flexibility are worth their weight in gold.Looking forward to learning more from your perspective and seeing what kinds of opportunities you uncover

They e told me verbally many time they can get this done in 10-12 weeks.

@Alecia LovelessIf you only paid $1800 for seven schedule E rentals and one partnership K-1, or a partnership return, that's a great price.

Hello everyone so I have this dilemma that I keep going back and forth in my mind aboutI'm currently saving up for a down payment for my first property here in Southern California where the houses aren't cheap compared to other states.If i were to try to save up for a 20% down payment for a $700,000 property with how much im currently saving per month today. it would take me approx. 2 years from today.where as if I were to save up for a 5% down payment I can be financially ready by January of 2026.But when I weight out the pros and cons I would have to pay PMI and have a overall higher monthly mortgage if I were to do a 5% compared to 20% down payment.

Definitely agree that good ones are worth their weight in gold.

Thanks for being honest — I can say I've felt this.I’ve been sitting with a similar question lately: Do the benefits of investing with debt truly outweigh the emotional and mental weight that comes with it?

Sauna, hot tub and/or plunge, outdoor shower, massage table, pull up bar and some weights or TRX.